JUNE 2026 MARKET UPDATE

Affordability Improves, But Buyers Remain Cautious

The Fraser Valley housing market continued to favour buyers throughout June, with benchmark prices now sitting 26 per cent below their 2022 peak. Despite this improving affordability, many buyers remain on the sidelines, extending the window of opportunity for those who are financially prepared to make a move.

The Fraser Valley saw 1,147 sales in June, up 2.0% from May but down 4.0% compared to June 2025. Active inventory climbed to 10,377 homes, keeping buyers well-supplied with choice as the market heads into summer.

Continuing the softer pricing trend we've seen through much of 2026, benchmark prices across all property types declined 0.9% month-over-month to $884,800, a decrease of 7.1% compared to June 2025.

With a sales-to-active listings ratio of 11 per cent in June, the Fraser Valley remains in buyer's market territory. A balanced market is typically defined by a ratio between 12 and 20 per cent.

Average days on Market in June (Across the Fraser Valley):

Detached: 37

Townhomes: 33

Condos: 38

A Closer Look at Surrey

Surrey's market continues to provide buyers with significant negotiating power.

In June, detached home sales declined 2.5% year-over-year, while townhome sales rose 4.2%. Condo sales declined 6.6% compared to June 2025.

Benchmark prices in Surrey were:

Detached Homes: $1,431,700 (-8.7% year-over-year)

Townhomes: $781,500 (-8.2% year-over-year)

Condos: $460,400 (-9.9% year-over-year)

Looking deeper into Surrey's submarkets:

Surrey Central detached benchmark price: $1,336,800 (-9.7% year-over-year)

Cloverdale detached benchmark price: $1,354,500 (-6.5% year-over-year)

North Surrey detached benchmark price: $1,278,300 (-11.9% year-over-year)

Inventory remains elevated throughout Surrey, providing buyers with more options and reducing the urgency that characterized the market just a few years ago.